Boeing, Minsheng Financial Leasing Announce Commitment for 30 737s
Boeing [NYSE:BA] and Minsheng Financial Leasing (Minsheng) today signed a Memorandum of Understanding (MOU) at the Paris Air Show for the purchase of 30 737 airplanes, a mix of Next-Generation 737 and 737 MAX airplanes.
"Minsheng has enjoyed a successful relationship with Boeing," said Wang Fuhou, Vice President of Minsheng for Aviation Unit. "Thanks to the continued emergence of low-cost carriers and regional airlines, the single-aisle market is projected to be the fastest growing and most dynamic segment. The Next-Generation 737 of today and the 737 MAX of the future combine market-leading economics, reliability and comfort to meet requirements from airline customers like Ruili Airlines."
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As one of the first five leasing companies approved by China Bank Regulatory Committee, Minsheng was founded in April 2008 by China Minsheng Banking Corp [600016.CH/ 1988.HK], the largest private commercial bank in China .
Minsheng has become a top-tier leasing company in China and has enjoyed the leading position in the business jet market. In 2013, Minsheng entered commercial airplanes, focusing on high-demand aircraft type and the global aviation market.
"We are thrilled with Minsheng's decision to purchase the 737 family of products," said Ihssane Mounir , senior vice president of Sales for Northeast Asia , Boeing Commercial Airplanes. "It's a milestone for Minsheng to become a major player in the leasing industry. This agreement for 737s, which offer market-leading fuel-efficiency and reliability, will allow Minsheng to capture the strong demand in both the domestic and global single-aisle market."
The Next-Generation 737's market success has been confirmed by investors who consistently rank it as the most preferred single-aisle airplane due to its wide market base, superior performance efficiency and lowest operating costs in its class. The 737 MAX builds on the strengths of today's Next-Generation 737 by incorporating the latest-technology to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.
Minsheng currently owns more than 30 commercial aircraft which are leased to more than 10 airlines customers across the world.
Source : The Boeing Company (NYSE: BA) - view original press release
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